Offshore Banking and Tax Havens Have Become Heart of Global Economy

Democracy Now! shared a link.

Offshore Banking and Tax Havens Have Become Heart of Global Economy

www.democracynow.org

Democracy Now! interviews British journalist Nicholas Shaxson, author of "Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens." Shaxson offers a look at how corporations and the wealthy use offshore banks and tax havens to avoid taxes and other governmental regulations.

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  Democracy Now!Dennis Kucinich

  ‎"Tax havens have grown so fast in the era of globalization since the 1970s that they have become at the heart of the global economy and are absolutely huge," says author Nicholas Shaxson on Democracy Now! today. "Anywhere between $10 trillion and $20 trillion are sitting offshore. Half the world trade is processed in one way or another through tax havens."